Midday Report: GM Suffers Disappointing February; Stocks Rally

Signs the manufacturing sector was recovering triggered an all-out rally on Wall Street. Activity in manufacturing remained just shy of growth, though improved at a faster rate than expected. A stronger U.S. dollar and weaker global demand has deterred growth in the sector. Construction spending in January jumped to an eight-year high, a sign fourth-quarter weakness dissipated in the New Year. Spending climbed 1.5%, nearly four times the expected increase. General Motors (GM) shares were on watch after missing February sales by a wide margin. The Detroit automaker reported a 1.5% decrease in sales, disappointing analysts expecting growth. Barclays (BCS) slid after more than halving its dividend and announcing plans to sell part of its stake in Barclays Africa. TheStreet's Keris Lahiff has details from Wall Street.